The University of Ibadan (UI) has received N1.655 billion from the Nigerian Education Loan Fund (NELFUND) to cover the institutional levies of 8,110 students for the 2025/2026 academic session.

The university’s Vice-Chancellor, Prof. Kayode Adebowale, disclosed this in a letter dated July 3, 2026, acknowledging receipt of the funds and commending the Federal Government’s student loan initiative.

In a correspondence addressed to the Managing Director of NELFUND, Akintunde Sawyerr, Prof. Adebowale said the intervention had continued to make a significant difference in the university community by supporting students who would otherwise struggle to afford higher education.

He noted that the number of beneficiaries at the institution had increased from 5,004 in the 2023/2024 academic session to 5,838 in 2024/2025, before rising to 8,110 in the current session.

The vice-chancellor attributed the increase to sustained technical support from NELFUND, its annual sensitisation workshops and improvements in the university’s internal processes.

He also credited the extension of the application deadline with helping to increase the number of applications by more than 1,000.

Adebowale, who wrote on behalf of the university’s management, Senate and students, said the institution remained committed to the effective implementation and sustainability of the loan scheme.

He said the university had put measures in place to ensure that every naira received was applied strictly to the academic levies of designated beneficiaries, with comprehensive internal auditing.

According to him, the institution has also strengthened its units responsible for educating students on accessing the loan portal and complying with application guidelines.

The university, he added, provides internal assistance to resolve complaints and escalate outstanding issues to NELFUND’s support desk, while ensuring the prompt and accurate verification of students’ data.

Adebowale further disclosed that the university had automated its refund process for students who paid their institutional levies before their loan applications were approved.

According to him, this was designed to improve efficiency and transparency in returning such payments.

The vice-chancellor expressed gratitude to the Federal Government and NELFUND’s leadership for their commitment to expanding access to higher education, pledging continued collaboration with the fund.